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Worldwide Financial Services 2009 Top 10 PredictionsPublished by: IDC Published: Feb. 2, 2009 - 12 Pages Table of ContentsTable of Contents Predictions In This Report Situation Overview Four Priorities Risk Management Mergers and Acquisitions Client Acquisition and Retention Cost Efficiency and Expense Reduction Figure: Worldwide Financial Services 2009 Top 10 Predictions in Context Future Outlook 1. The Number of Banks Worldwide Will Shrink by 5% 2. Regulatory Authority for European Financial Institutions Will Be Consolidated in a New "Superregulator" 3. Innovation Now Will Be in Customer Acquisition and Retention Strategies 4. FinTech 100: Only 88 Will Welcome the New Year in 2010 5. Outsourcing Will Surge Worldwide 6. Financial Services Firms Will Purchase Less Analytical Data for Consumer Credit Risk Management in 2009 7. North American Banking Industry IT Spending Will Go Negative 8. Business Intelligence Will Be the Cornerstone of Competitive Success for Financial Institutions in 2009 9. U.S. and European Banks Will Increasingly Look East for Opportunities 10. Financial Turmoil Will Test Resiliency of Capital Markets: A Historical Period of Transformation, Repositioning, and Repair Essential Guidance Learn More Related Research Synopsis AbstractThis Financial Insights report presents our top 10 predictions for global financial services. The year 2008 was one for the record books, and not in a good way. One after another, major financial institutions came to the brink of failure and had to be rescued by their national government, caught in a vicious spiral of falling housing prices, rising credit defaults, and a frozen credit market in which even short-term loans became unaffordable. As we look to 2009, there is no end in sight, and we are entering unknown territory. Panic is understandable in these conditions, yet those who resist it will find unprecedented opportunities. According to Aaron McPherson, practice director at Financial Insights and lead author of the report, "Now is the time for stronger companies to increase market share at the expense of their weaker competitors. Those financial institutions and technology suppliers that are able to stay focused on their long-term strategy will be in the best position to benefit once the inevitable recovery begins." Get Full Details About This Report >> |
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